Insider Selling: Alphabet Inc. (NASDAQ:GOOGL) CEO Sells $3,759,075.00 in Stock

Alphabet Inc. (NASDAQ:GOOGL) CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sundar Pichai also recently made the following trade(s):

• On Wednesday, September 18th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00.
• On Wednesday, September 4th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00.
• On Wednesday, August 21st, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00.
• On Wednesday, August 7th, Sundar Pichai sold 22,500 shares of Alphabet stock. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00.
• On Wednesday, July 17th, Sundar Pichai sold 22,500 shares of Alphabet stock. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00.

Alphabet Price Performance

Alphabet stock opened at $167.06 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day moving average price is $162.06 and its two-hundred day moving average price is $167.14. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the business earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. Allied Investment Advisors LLC boosted its holdings in Alphabet by 7.8% during the 3rd quarter. Allied Investment Advisors LLC now owns 2,800 shares of the information services provider’s stock worth $464,000 after acquiring an additional 202 shares during the last quarter. Fluent Financial LLC lifted its position in shares of Alphabet by 8.6% during the third quarter. Fluent Financial LLC now owns 17,535 shares of the information services provider’s stock valued at $2,908,000 after purchasing an additional 1,392 shares in the last quarter. Biltmore Wealth Management LLC boosted its holdings in Alphabet by 4.1% during the third quarter. Biltmore Wealth Management LLC now owns 2,149 shares of the information services provider’s stock worth $356,000 after purchasing an additional 85 shares during the last quarter. jvl associates llc grew its position in Alphabet by 0.8% in the 3rd quarter. jvl associates llc now owns 15,715 shares of the information services provider’s stock worth $2,606,000 after purchasing an additional 125 shares in the last quarter. Finally, Sowell Financial Services LLC increased its stake in Alphabet by 2.6% in the 3rd quarter. Sowell Financial Services LLC now owns 107,992 shares of the information services provider’s stock valued at $17,911,000 after buying an additional 2,686 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a report on Monday, September 30th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. DA Davidson started coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.